Jeff Bezos’ letter 24 years ago shows how he made Amazon a global giant11 October 2021
In 1997, three years after Amazon was founded, Jeff Bezos, the CEO of the most powerful online retailer, sent a letter to those who wanted to work with Amazon.
Amazon was founded by Bezos in 1994. At the time, nothing heralded the resounding success of the retailer, which today was worth $ 1.7 trillion and turned Bezos into in the richest man in the world.
Now it is known Bezos’ practice to write, annually, a letter to the company’s shareholders, in which he presents his achievements from the previous year, but also the objectives for the future, but In 1997, Bezos was doing this for the first time since the founding of Amazon. And we were able to find out what was in the first letter from Bezos to Amazon shareholders, later 24 years old.
In that year, Amazon had a revenue of $ 147 million, with 614 employees.
Amazon.com went through many stages in 1997: by the end of the year, we had served more than 1.5 million customers, earning a revenue increase of 838 % to $ 147.8 million and we have expanded our market leadership, âthe letter said.
Bezos goes on to say that “this is Day 1 for the Internet and, if we work well, for Amazon.com.”
“Today, online commerce saves customers money and valuable time. Tomorrow, through personalization, online commerce will even speed up the discovery process. Amazon.com uses the Internet to create real value for its customers and, in doing so, hopes to create a sustainable franchise, even in stable and large markets.
We have a window of opportunity because older players organize their resources to pursue the opportunity online, and customers who start buying online are receptive to building new relationships.
We have invested and will continue to invest aggressively to expand and capitalize on our customer base, brand and infrastructure as we continue to establish a sustainable franchise.